CEO: Tele2 breaks even in 2018, revenue rises 16% to 143 bln rbl

SOCHI, Feb 15 (PRIME) -- Russian mobile operator T2 RTK Holding broke even in 2018, when its revenue increased 16% to 143 billion rubles, as calculated under International Financial Reporting Standards (IFRS), CEO Sergei Emdin told PRIME on Friday.

“Last year was successful for us. Our revenue grew significantly to 143 billion rubles. Our margin grew, we don’t disclose it yet. We’ll make a wider disclosure on March 5. We fulfilled the plan of having a net profit. We can say that the company has become profitable,” Emdin said.

“The subscriber growth is not so impressive, but although the market is shrinking we are rising. This is why, on the whole, we’re satisfied with the 2018 results. We think the strategy adopted at the end of 2016 allows us to show good results not once, but permanently.”

T2 RTK Holding intends to keep growing in 2019. “At least, there are all prerequisites that there will be a story of strong growth in 2019, without damping, but thanks to a change of the structure base of subscribers in favor of a bigger number of subscribers who actively consume services of the mobile Internet on modern smartphones, on the latest technologies of 4G,” Emdin said.

Investments in 2019 will be same as in 2018, he said. T2 RTK Holding’s capital expenditures stood at some 16 billion rubles in January–September 2018.

(66.5429 rubles – U.S. $1)

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